Gamma Communications PLC - London-based cloud communication services provider - Says it continued to grow in "the first part of 2022." Expects new project wins for its UK Direct business to drive growth in the second half of the year. Anticipates revenue growth in this segment to approach 10% year-on-year. Records strong momentum for its Cloud PBX solution across its European business, with Germany performing well particularly.
Continues to monitor inflationary pressures but does not expect any "material impact" on its performance in 2022. Now expects adjusted earnings before interest, tax, depreciation, and amortisation and adjusted earnings per share for 2022 to be in the upper half of the range of market forecasts, which predict GBP101.0 million to GBP106.8 million and 66.6 pence to 74.6 pence, respectively.
In 2021, it generated adjusted Ebitda of GBP95.4 million and adjusted EPS of 64.0p, meaning at least 5.9% Ebitda growth and at least 4.1% EPS growth.
Current stock price: 1,136.48 pence
12-month change: down 40%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Gamma Communications (GAMA)